The good news from News Corp: Profits hold steady at Wapping and start to flow at Sky

Posted by Peter Kirwan on 6 February 2009 at 12:47
Tags: Journalism

The coverage of today’s News Corporation results for Q408 is awash with apocalyptic intimations.
But forget about the $8.4bn write-off in asset values for a minute. That’s not a trading loss. It’s a balance sheet phenomenon, triggered by declining share prices and extruded on to the P&L by accounting rules.
Instead, focus on real profits. Here’s what [...]

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